Russian gas exec defiant in face of sanctions

MOSCOW (AP) — The chief executive of Russian oil giant Rosneft and a close ally of President Vladimir Putin has spoken defiantly of possible sanctions by Western powers against him, threatening to move business elsewhere.

The United States and the European Union announced Monday asset freezes and visa bans against Russian and Ukrainian officials involved in the Crimean crisis. They are considering broadening those sanctions to include more individuals, possibly Rosneft President Igor Sechin as well.

Sechin, the head of Russia’s largest oil company, told Russia news agencies on Tuesday that he is not afraid of potential sanctions, calling them “evidence of powerlessness.”

Rosneft and Russian companies should not fear sanctions either, Sechin insisted, saying “Russian companies can move their business elsewhere” away from the U.S. and Europe.

No. 60 -- Rosneft Chairman Igor Sechin, 53
Sechin, President Vladimir Putin's former deputy chief of staff, took the helm at Rosneft in May 2012 and soon after lead a major deal to buy BP's interest in energy company TNK-BP.
[Photo: CEO of state-controlled Russian oil company Rosneft Igor Sechin commissions new equipment at the Rosneft oil refinery in the Black Sea port of Tuapse, southern Russia, Friday, Oct. 11, 2013.] less

No. 60 -- Rosneft Chairman Igor Sechin, 53
Sechin, President Vladimir Putin's former deputy chief of staff, took the helm at Rosneft in May 2012 and soon after lead a major deal to buy BP's interest in ... more

Photo: Alexei Nikolsky / Associated Press

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No. 40 -- Saudi Arabia Oil Minister Ali Al-Naimi, 78
Ranked No. 32 last year, Al-Naimi, Saudi Arabia’s minister of petroleum and mineral resources, also served as president of Saudi Aramco, the world's largest oil company, for many years.
[Photo: Saudi Arabian Minister of Petroleum and Mineral Resources Ali Ibrahim al-Naimi speaks at The Center for Strategic and International Studies (CSIS) in Washington DC on April 30, 2013.] less

No. 34 -- United Arab Emirates President Khalifa bin Zayed Al-Nahyan
Ranked No. 33 in 2012, President Khalifa bin Zayed Al Nahyan leads a small nation with massive oil reserves, the seventh largest in the world.
[Photo: UAE President Khalifa bin Zayed Al Nahyan watches the opening ceremony of the International Defense Exhibition in Abu Dhabi, United Arab Emirates on March 18, 2001.] less

No. 34 -- United Arab Emirates President Khalifa bin Zayed Al-Nahyan
Ranked No. 33 in 2012, President Khalifa bin Zayed Al Nahyan leads a small nation with massive oil reserves, the seventh largest in the ... more

Photo: KAMRAN JEBREILI / AP

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No. 31 -- Koch Industries CEO Charles Koch, 77
Ranked No. 41 last year, Charles Koch is one half of the brother duo that leads the nation's second largest private company, Koch Industries, which includes refining and chemicals businesses among its interests.
[Photo: Charles Koch speaks during an interview in May 2012 in his office at Koch Industries in Wichita, Kansas, where Koch Industries manages 60,000 employees in 60 countries.] less

No. 31 -- Koch Industries CEO Charles Koch, 77
Ranked No. 41 last year, Charles Koch is one half of the brother duo that leads the nation's second largest private company, Koch Industries, which includes ... more

Photo: BO RADER / McClatchy-Tribune News Service

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No. 31 -- Koch Industries Executive Vice President David Koch, 73
Ranked No. 41 last year, David Koch is one half of the brother duo that leads the nation's second largest private company, Koch Industries, which includes refining and chemicals businesses among its interests.
[Photo: David Koch, executive vice president of Koch Industries, attends a meeting of the Economic Club of New York.] less

No. 31 -- Koch Industries Executive Vice President David Koch, 73
Ranked No. 41 last year, David Koch is one half of the brother duo that leads the nation's second largest private company, Koch Industries, ... more